Industry News
UK Marriott portfolio nears sale
The 42 Marriotts in the UK seized by the Royal Bank of Scotland last June are nearing a sale according to recent press reports. The new owner could well be Indian entrepreneur Subrata Roy, whose Sahara group last year wound up the successful bidder in a contest for the Grosvenor House in London, itself run by Marriott.View Article
Where next as Chinese land in Brussels?
Chinese airline Hainan Airlines broke ground on a hotel investment in Belgian capital Brussels at the end of January. While hardly earth shaking, it’s a sign that Chinese groups are serious about growing their hotel portfolios outside their home country.View Article
Market predictions flag up contrasting fortunes
Development pipeline figures from STR Global and investment predictions from Jones Lang LaSalle Hotels both point to a positive 2012 for the hotel sector as whole. But there is a sharp contrast between the expectation for developing markets against what is in store for the mature markets of Western Europe and North America.View Article
Enduring recession means deals remain stalled
The recession is unlikely to end within the next two years, was the depressing verdict of a leading hotel banker at Ernst & Young’s EMEIA Hotels Workshop held at London’s InterContinental last week. And the deteriorating economic outlook means that less rather than more hotels are likely to be brought to market by banks, he argued.View Article